Have you ever read the book “The Wealthy Barber” written by David Chilton? No?!! How is that possible?
I’ve read that book back in the days when I was still in high school. I remember that after reading it I thought “I’ll be rich like the barber one day!”
Why? Because the principles shown in this book are based on the KISS principle (keep it simple stupid). They are easy to follow and they are sound advice.
The “Wealthy Barber” was one of the rare intelligent voice in the crowd of the past 30 years. He explained how to become rich SLOWLY… By starting QUICKLY. That’s the only real way to get rich “quick” in the end!
Let’s see how to do it :
Stop behaving like a stupid monkey!
Do you know what I did with these words of wisdom?
I simply forgot them and passed the next following ten to fifteen years at searching the one idea to become insanely rich quickly!
I read tons of book about how to build a real estate empire in a couple of years, about how to create an app and sell it millions of time, about how to make money very fast on internet by creating the next Ebay or Google, about how to create an ebook empire… I read them all… Hundreds of books, thousands of hours lost…
Some people are faster than other at understanding their mistakes. Clearly it is not my case!
Do you know what I’ve finally learned? There’s only one guy making money with the “Get rich quick” schemes… Its author!!! All the others are gold miners… Some of them will find a nugget, most will dig forever… I’m tired to be a digger!
Like with the Great gold rush, those who are really making money are those who are providing the pick and shovels, not the gold miners…
Get rich quick is a myth! It’s a fallacy. And what’s so sad is that tons of people are trapped in that way of thinking because the medias always show us the one lucky guy in the crowd who has succeeded in making quick money! This makes us believe it will be our turn one day!
What they don’t tell us is that there has been hard work, most of the times, a lot of trial and errors, a bit of chance, and also, that there are billions of people currently trying to do the same! Like with lottery, most will lose!
The “Wealthy Barber” explains you how to win!
You won’t get rich by the end of next week, but ten and even 20 and 30 years from now you’ll be glad if you follow his principles. You might even be multi-millionaire!
What are his core principles?
You don’t want to hear it… But really, that’s what everybody should be doing!
Save early, save steadily and invest wisely in property! Compounded interest’s magic will do the rest!
I know… It sounds boring! But it works.
That’s how all our capitalist system is built if you take the time to think about it. Find a way to make a steady profit, even small, repeat forever!
Walmart found a way to make a profit by selling stuff at a discount. They used these profits to increase their ability to generate even more profits by investing it on property. They have built new stores and now they are everywhere. It took them years, but see where it had led them!
Start acting like a wise monkey!
You don’t have to sell anything. You have a job. This gives you regular paychecks. Just find a way to save a small chunk and invest it wisely again and again.
It could be by owning a rental property and reinvesting the rents in buying other rental properties if you are already wealthy enough. Or it could be by investing in great companies paying a growing dividend and by reinvesting those dividends in buying other shares of great companies! You can start doing this with a DRIP (dividend reinvestment plan) for a couple of dollars per month if you wish.
Don’t try to reinvent the wheel. These investments will give you a regular cash-flow of money to reinvest. Just repeat again and again. That’s how you put your money at work. It won’t be impressive in the short run, but after a couple of years you’ll start seeing the true magic of the compounded interest force!
That’s what I do! It’s at my arm’s length.
I finally became older and wiser with time… (It was about time!). I have admitted that there are no such thing as easy money and that one should build its wealth over the long run!
Start realizing it now! You will not regret it!
Actually, as boring as the method seems to be, I find it fun! Investing can become sort of game, a challenge! And there are a lot of communities of people like me on internet. It’s fun to follow their improvements! It keeps me motivated because I want to do as good as them and I know it’s possible!
Stop losing your time and start putting your money at work for your own benefits!
You don’t need thousands of dollars. You can start right away by saving 20 or 50$ per week!
You want to know more about dividend growth investing? Go see my Get started with dividend growth investing page!
Or start first by reading David Chilton’s book. Words of wisdom are always a good investment!
Featured post image courtesy of ImageryMajestic / FreeDigitalPhotos.net”.